IT House February 9 news, in October 2021, the US short-selling agency J Capital Research released a 28-page short report.
According to the report, through on-site visits and research, analysis of the company's financial report data and technical capabilities, and combined with a series of post-IPO capital operations, faraday Future is an "emerging electric vehicle scam" and will never be able to sell a car.
Then, the U.S. law firm Block & Leviton launched an investigation into Faraday Future, arguing that the company may have violated U.S. securities laws and regulations, and filed a class-action lawsuit calling on investors who suffered losses from trading the company's shares to join the lawsuit.
Faraday Future now publishes paid booking data for FF91 – 300 units. According to the surging news, the relevant person in charge of FF said that the booking of FF includes two types of paid bookings and free bookings. "We have collected more than 14,000 FF 91 bookings and have information about all booking users."
"FF has announced that all 300 invitation-based limited edition FF 91 Futurist Alliance Editions around the world have been sold out and all deposits have been received, which shows the confidence of the market in FF and the expectations of spire users for the invincible product strength of FF 91 Futurist Alliance Edition." The person in charge said FF was very satisfied with the number of bookings it had received, especially without significant marketing plan costs. With a range of marketing plans, be confident to see a continued increase in bookings.
In other words, FF only has 300 appointments to actually pay a deposit, and another 14,000 orders are free orders for unpaid deposits – which is almost uncommon in new power car companies, and even Tesla reservations require a deposit of at least 1,000 yuan.
IT House has reported that on February 2 this year, electric vehicle startup Faraday Future announced that a special committee of the company's board of directors has completed a previously announced investigation into allegations of inaccurate disclosure, including allegations in a short-selling report last October.
Faraday Future said the special committee, assisted by independent counsel Kirkland & Ellis LLP and forensic accounting firm Alvarez & Marsal, concluded that the special committee did find certain inconsistencies in statements addressed to investors and certain weaknesses in corporate controls and culture. In addition, other substantive allegations of inaccurate disclosures assessed by the Special Committee, including those in the reports of short sellers, were not supported by the evidence reviewed.
